HONOLULU —Hawaii State FCU has begun offering members a new “Always Cash Rewards” Visa Signature card that offers a 2.5% APR cash back rewards on all purchases. regardless of the spending category. The card carries no annual fee.
In 2022, Hawaii State FCU said it surveyed its members to understand what drove their primary credit card usage behavior, finding most members dislike credit card annual fees, and value rewards as the most important feature in their primary credit card.
The number one preference for rewards was cash back on all purchases, the credit union said, which is consistent with what a panel of consumers recently told the California and Nevada leagues’ REACH Conference.
Stretching the Dollar
"By earning a substantial cash back reward on every purchase made, and eliminating the burden of annual fees, our members will be able to stretch their hard-earned dollars further," President and CEO Andrew Rosen said in a statement. "Hawaii State FCU is committed to providing innovative solutions and products that not only reward our members for their loyalty, but also enhance their financial well-being. As the cost of living rises and credit card usage increases, we’ve seen a greater demand for a credit card product that offers strong rewards on purchases.”
According to Hawaii State, the Always Cash Visa Signature Rewards card offers 2.5% on all net cash purchases up to $5,000 every billing cycle, and 1.25% on purchases above $5,000. The cash back rewards can be redeemed on demand through the Hawaii State FCU website or mobile app. Additionally, there are no annual fees or foreign transaction fees, the credit union said.
Physical & Digital Cards
Hawaii State FCU added it offers both physical and digital credit cards. In 2021, the credit union was the first financial institution in Hawaii to offer instant access to replacement credit cards through their mobile wallet.
And on July 24, 2023, Hawaii State FCU launched a new feature that simplifies the process of adding a credit card to the mobile wallet via the Hawaii State FCU app, it said.
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